Verano (OTCMKTS:VRNOF) Trading Up 9.3% - Here's What Happened

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) shares traded up 9.3% during mid-day trading on Monday . The stock traded as high as $0.63 and last traded at $0.59. 442,315 shares changed hands during trading, an increase of 22% from the average session volume of 362,308 shares. The stock had previously closed at $0.54.

Analysts Set New Price Targets

Separately, Cormark lowered Verano from a "moderate buy" rating to a "hold" rating in a report on Monday, May 12th.

Verano Stock Performance

The business's 50 day moving average price is $0.57 and its two-hundred day moving average price is $0.76. The company has a current ratio of 2.15, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $202.96 million, a price-to-earnings ratio of -0.57 and a beta of 0.72.

Verano (OTCMKTS:VRNOF - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Verano had a negative net margin of 40.20% and a negative return on equity of 8.06%. The company had revenue of $209.81 million for the quarter, compared to the consensus estimate of $213.84 million. On average, equities analysts predict that Verano Holdings Corp. will post -0.18 earnings per share for the current fiscal year.

About Verano

Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company engages in the cultivation, processing, wholesale, and retail distribution of cannabis in Arizona, Arkansas, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia.